Delhi based, Renewable Energy Developer, Green Infra Ltd, seems to be quite close to acquire the 59.5 MW Wind Energy generating assets of TVS Energy.
Green Infra is Equity promoted by IDFC, an Infrastructure Finance Company has bided for the 59.5 MW Wind Energy Projects of TVS Energy. TVS Energy is a wholly-owned subsidiary of TVS Motor and was set up around three (3) years ago.
Apart from Green Infra, Mytrah Energy and Orient Green Power are also in the race of buying the Wind Energy Projects.
It seems that various Wind Energy Developers have started to consider the sale of Wind Projects. Many companies put up wind power capacity for the purpose of availing "Accelerated Depreciation" to get benefits of Tax Savings.
Developers such as BP, DLF, VRL Logistics etc have closed deals to sell their Wind Energy Assets in recent past. Further, companies like Lanco Infra, Ashok Leyland and KS Oils etc have also announced their intentions to sell.
Thus the wind power assets are passing from the hands of companies for whom ‘wind’ is a non-core business activity, to the hands of ‘independent power producers’ whose very business is to generate power and sell it.
- JP Morgan-backed Leap Green, Mumbai-based Ushdev International, Bharat Light and Power, and Green Infra are among the companies that have announced plans to grow their wind businesses.
- Ushdev International, for instance, intends to raise its capacity from 90 MW to 350 MW this year, only through acquisitions. Even its existing capacity was acquired from Suzlon Energy.
- Leap Green and BLP have bought parts of DLF assets.
- Green Infra is among the earliest acquirers—in 2009, it bought a 100-MW wind farm from the British oil giant, BP, which then began the process of exiting wind business.
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